A broker fraud attorney is a lawyer hired by an investor whose stock broker or financial adviser took advantage, presented false information, or carried out other dishonest activities and used them for personal gain. If an investor is a victim of such or is suspicious of his stock broker or financial adviser, the investor should report it immediately and hire an experienced, qualified lawyer.
Here are some signs that one might notice when his/her broker is taking part in some unlawful activities:
- Avoiding calls, emails or letters,
- Misrepresenting information,
- Making or insisting on purchasing securities above the investor’s risk level,
- Making an excessive amount of trades.
If an investor recognizes the above signs then there might be a possibility of the mentioned fraud. But there are different types of financial frauds, such as:
- Internet fraud,
- Trading fraud,
- Commodities fraud, and
- Stock or bonds fraud.
What should an investor look for when hiring a broker fraud attorney? First, one should realize that this person is going to represent the investor. This means that the investor needs to find a good, experienced attorney for the case.
The attorney should have a good history of large settlements and can handle a wide range of fraud cases. If this person has won many cases then the investor has a greater chance on winning his case. Also an Attorney needs to consider personal values and should be able to meet the investor in person. Some information is best not relayed on the phone or through any other means.
The attorney should also have courtroom experience, and should be skilled in three procedures which are arbitration, mediation and litigation procedures.
Arbitration is a less formal alternative dispute and is not carried out in a courtroom. Instead of a judge it uses a panel of arbitrators. Mediation is a voluntary procedure where both sides can talk openly and discuss their concerns in order to reach an agreement. Litigation is the process where the previous two (mediation and arbitration) are not enough, and therefore civil action is already presented to a judge or jury. So if there is the necessity to take the case to court, the lawyer would have no complications to do so.
A broker fraud attorney may hire an experienced security fraud expert to help determine how the offences have been committed. This expert may help both the investor and the lawyer to form a strong case against the broker or financial advisor. These experts can support litigation lawyers due to their experience. They know the regulations, laws and rules and they can identify broker fraud signs.
One should check with the attorney if there are any limits on the claim. An attorney’s goal should be to provide the client with the best guidance and legal advice to recover his losses. An attorney should give personal attention, offer genuine advice and should be dedicated to his client’s satisfaction. Choose a broker fraud attorney based on these qualifications and needs.